Italian energy services contractor Saipem has secured two new contracts with a combined value of approximately €800m ($913m), according to a report by Splash247. The awards, one offshore Ivory Coast and one onshore in Italy, underscore Saipem's continued role in subsea oil and gas development and the energy transition.
The first contract, awarded by Eni Côte d'Ivoire and its partners, covers the Baleine Phase 3 project—the third development phase of the Baleine oil and gas field, located offshore Ivory Coast at water depths up to 1,300 m. Saipem's scope includes engineering, fabrication, transportation, and installation of approximately 50 km of rigid pipelines and associated subsea structures. The work also encompasses transportation and installation of flexible risers, flexible jumpers, subsea production systems, a 3-km-long flexible gas export flowline, and 22 km of subsea umbilical. The project is expected to last approximately three years and will deploy the construction vessels FDS and Shen Da.
Biorefinery Unit in Venice
The second contract was awarded by Enilive, Eni's company focused on biofuels and biomethane production. It covers the engineering, procurement, and construction of a new deoxygenation unit at Enilive's biorefinery in Venice, Italy. This furthers Enilive's capacity to produce advanced biofuels for the mobility sector.
Prior Santorini Drillship Deal
These awards closely follow an offshore drilling contract for Saipem's Santorini drillship, also awarded by Eni Côte d'Ivoire. That deal is valued at approximately $260m, with operations scheduled to begin in early 2027, according to the source.
Implications for Offshore Services and Biofuels
While no specific commodity price movements were reported, the contracts indicate sustained investment in offshore oil and gas production (Baleine field) and in downstream biofuel infrastructure. For commodity traders, the Baleine project adds future supply capacity for crude oil and natural gas from West Africa, while the Venice biorefinery expansion supports growing demand for renewable diesel and sustainable aviation fuel (SAF) in Europe.
| Contract | Client | Value | Scope |
|---|---|---|---|
| Baleine Phase 3 (Ivory Coast) | Eni Côte d'Ivoire & partners | Part of ~€800m total | Engineering, procurement, installation of pipelines, risers, subsea systems; 3-year project |
| Deoxygenation unit (Venice, Italy) | Enilive | Part of ~€800m total | EPC of new unit at biorefinery |
| Santorini drillship (Ivory Coast) | Eni Côte d'Ivoire | ~$260m | Offshore drilling; starts early 2027 |
The Baleine field is a key asset for Eni's production growth in Africa, and the Venice biorefinery is one of the largest advanced biofuel plants in Europe. Saipem's backlog now includes significant work in both conventional and low-carbon energy streams.
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